Table 3.
The efficient portfolios under different transaction costs (μ 0 = 0.08, h 0 = 1.7).
| Security | x 1 | x 2 | x 3 | x 4 | x 5 | x 6 | x 7 | x 8 | TC |
|---|---|---|---|---|---|---|---|---|---|
| k 5 = 0 | 0.341 | 0.050 | 0.090 | 0.060 | 0.289 | 0.050 | 0.060 | 0.060 | 0.00188 |
| k 5 = 0.004 | 0.350 | 0.050 | 0.102 | 0.060 | 0.268 | 0.050 | 0.060 | 0.060 | 0.00234 |
| k 5 = 0.008 | 0.332 | 0.050 | 0.096 | 0.060 | 0.292 | 0.050 | 0.060 | 0.060 | 0.00298 |
| k 5 = 0.015 | 0.322 | 0.050 | 0.105 | 0.060 | 0.293 | 0.050 | 0.060 | 0.060 | 0.00394 |